The Trump administration has proposed $10.6 billion in budget cuts to public education funding; instead, the DOE plans to spend approximately $400 million on their school choice initiative, expanding vouchers to religious and private schools and expanding charter schools.

This is the opposite of what large majorities of public school parents want.

  • Only 23% of parents of public school kids approve of the job Education Secretary Betsy DeVos has done, according to a new poll of 1,200 parents from the American Federation of Teachers.
  • And disapproval ratings are even higher among minority parents: 60% of African American parents and 46% of Latino parents are unhappy with DeVos.
  • "Parents deeply support the public schools their children attend," AFT President Randi Weingarten said, adding that the administration's defunding efforts are "completely at odds with parents' educational priorities."
  • Inadequate funding was one of the top two problems parents were most concerned about, with 87% of parents surveyed feeling concerned about the cuts at the local level.

Go deeper

U.S. economy adds 1.8 million jobs in July

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. added 1.8 million jobs last month, while the unemployment rate fell to 10.2% from 11.1% in June, the Labor Department said on Friday.

Why it matters: The labor market continued to recover but the pace of job growth slowed significantly from June’s 4.8 million job gain, suggesting a stalled recovery as coronavirus cases surged and states pulled back on reopening plans.

37 mins ago - Sports

The pandemic's impact on how sports are played

Damian Lillard shoots a free throw during one of the NBA's restart games. Photo: Mike Ehrmann/Getty Images

Sports are back, and on the surface, the actual gameplay looks fairly similar to when we last saw them.

But beneath that facade of normalcy lie some interesting trends spurred on by fan-less environments, long layoffs and condensed schedules.

A soaring Nasdaq is just one slice of the buy-anything market

Illustration: Aïda Amer/Axios

The Nasdaq closed above 11,000 for the first time on Thursday, ending the session higher for the seventh time in a row and eighth session in nine. It has gained nearly 10% since July 1.

Why it matters: It's not just tech stocks that have rallied recently. Just about every asset class has jumped in the third quarter, including many that typically have negative or inverse correlations to each other.